The Detroit Free Press reports that, of the 267 automotive plants that have closed in the U.S. since 1979, 128 have reopened with a new purpose. Astonishingly enough, 40 percent of those reopened sites were purchased between 2008 and 2010 as General Motors and Chrysler underwent restructuring, thanks in part to lower land prices and a larger volume of available properties.
Of those that remain closed, however, 65 percent can be found in Michigan, Ohio and Indiana. They don't call it the rust belt for nothing. Even with so many sites finding new owners in recent years, things aren't necessarily looking better for those that remain closed.
According to the report, of the 128 plants that have closed in North America since 1980, three of every five are currently lying idle. Perhaps even more concerning is that only three of the 45 that have reopened under new businesses have been able offer their communities the same number of jobs as the buildings supplied under the automakers. Head over to The Detroit Free Press for the full report.